MultiversX

MultiversX is a blockchain protocol that provides true horizontal scalability through comprehensive sharding, including Network, Transaction, and State aspects. This technology ecosystem supports the new internet era, encompassing decentralized finance, real-world assets, and the Metaverse.

Key Features of MultiversX

The platform's smart contracts execution capability can reportedly handle up to 100,000 transactions per second with a 6-second latency at a cost of $0.002 per transaction. The governance and security of MultiversX are facilitated by its native token EGLD (Electronic Gold). It serves as a store of value currency used for network usage payments and as a medium of exchange between users and validators.

EGLD is instrumental in deploying smart contracts, protocols, and dApps on the platform. It enables network actions and manages the MultiversX network through staking/validation rewards and transaction fees. Moreover, it functions as a governance token allowing holders to vote on network decisions.

MultiversX Operation

MultiversX employs three types of parallelization: state, transactions, and network. This implementation accelerates processing time while increasing the volume of transactions. The platform uses Adaptive State Sharding for scaling purposes while sharing infrastructure to support an escalating number of applications/transactions on the ledger.

A variation of traditional PoS operational protocol ensures connectivity across all segments separated during sharding. Thus facilitating an integrated environment for developing dApps which are replicas of products/services.

Uniqueness of MultiversX

MultiversX positions itself as a blockchain platform for the new internet economy with high scalability being its unique selling proposition. It claims to be the first blockchain network implementing state, network, and transaction sharding comprehensively.

To establish EGLD as a store-of-value asset and build its ecosystem, the network operates on 3,200 validator nodes divided into four shards. Three of these are execution shards capable of processing up to 100,000 transactions per second in total, while the fourth shard, known as the "Metachain", coordinates transactions.

MultiversX's adaptive state sharding architecture completely shards state, transactions and network. It can scale by adding additional shards when throughput demand requires. The blockchain also supports developers building on the platform by allowing them to earn 30% of smart contract fees as royalties.

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